We are all waiting. The fitness community has been making do for a long time. I personally have a Garmin Forerunner 610. The Garmin does everything a fitness enthusiast could want: heart rate, accurate speed with GPS, foot cadence with foot sensor, community with Garmin Connect. Perfect feature set. So whats the problem with Garmin? Oh where do I start? The user interface on the watch is horrible. The software cant even be figured out by a software engineer like myself. The watch itself is big and clunky. The battery life SUCKS, recharging daily is required. If those are not obstacles enough, its EXPENSIVE! I own three Garmin devices (forerunner 610, edge 810, and 605), not because I love them but because I have no better options :)
Then there is the fit-bit. Slick, easy to use .. and very limited. Although its a great product for those just trying to lose weight, without GPS and heart rate, its not really of any use to athletes.
So, we are all waiting Apple. Will the iWatch have GPS? Will I be able to use apps like runkeeper with a polar or wahoo bluetooth heart rate monitor? If so, you win the fitness market. If not, we are left with hard, bad choices.